BitMine Immersion Technologies bought 40,613 ether, increasing its total to over 4.3 million ETH, valued at $9.2 billion. This acquisition places BitMine as the largest corporate holder of Ethereum, representing 3.58% of the circulating supply. Executive Chairman Tom Lee believes this is a strategic move during a price dip, citing strong network activity despite lower prices.

NYDIG has called for the removal of the misleading mNAV metric used by bitcoin treasury companies, arguing that it does not accurately reflect the value of firms with operational businesses and relies on potentially inaccurate assumed shares outstanding. The discussion was prompted by Strive Asset Management's acquisition of Semler Scientific, which combined their holdings of over 10,900 BTC and raised concerns about how investors evaluate bitcoin treasury firms.